Updated for 2026
A home is one of the biggest assets many people will ever own, and a home equity line of credit (HELOC) is a flexible way to put that equity to work. Whether you are planning home improvements, covering education costs, consolidating debt, or managing a large expense, a HELOC gives you convenient access to funds when you need them.
How a HELOC works
A HELOC is a revolving line of credit secured by your home. Instead of receiving a lump sum like a traditional loan, you borrow from an approved credit limit over a set draw period, typically 10 to 20 years. During this time, you can withdraw funds as needed and pay interest only on the amount you use. As you repay what you borrow, your available credit is restored, similar to a credit card. Most HELOCs have variable interest rates, which means your rate can change over time based on market conditions.
Benefits of a HELOC
Flexibility: You can use a HELOC for a wide range of expenses including home improvement projects, debt consolidation, unexpected costs, and more. Instead of applying for a new loan each time, you already have access to funds.
Lower interest rates: Because a HELOC is secured by your home, interest rates are often lower than those on credit cards or personal loans.
Potential tax advantages: Interest may be tax deductible if the funds are used for qualifying home improvements (consult a tax professional).
Heartland’s Flex HELOC
Our Flex Home Equity Line of Credit offers all the advantages of a traditional HELOC with additional features designed to give you more convenience and control.
Flexible payment options: You can choose how quickly you want to pay down your balance. You can make larger payments when your budget allows or take advantage of interest only payments during months when you need more room in your budget.
Easy access to funds: Withdraw funds in the way that works best for you including transfers in HCU Digital Banking, calling eBranch for assistance, or visiting any branch to transfer at the teller line.
Borrow up to 90 percent of your home’s value: A Flex HELOC gives you the ability to access more of your home’s equity when you need it.
Is a HELOC right for you?
If you are considering a HELOC, think about how you plan to use the funds, how comfortable you are with a variable rate, and what repayment schedule fits your budget. A HELOC can be a powerful financial tool when used thoughtfully and with a long term plan in mind. If you would like help determining whether a Flex HELOC is the best fit for your situation, our team is here to guide you.
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